Sharp To Buy Recurrent

San Francisco-based Recurrent Energy, which develops distributed solar generation projects for utilities, said yesterday (PDF) that it will be acquired by Japan’s Sharp for up to $305 million in cash, subject to balance sheet adjustments. “It is essential for Sharp to function as a developer in the photovoltaic field, in order to further expand its business in this area,” Toshishige Hamano, Sharp’s exectuve vice president for overseas business, said in a statement. “With Recurrent Energy’s know-how as a developer, Sharp aims to become a total solutions comapny in the photovoltaic field, extending from developing and producing solar cells and modules to developing and marketing power generation plants.” Recurrent has contracts to deliver 2 gigawatts of solar generating capacity to customers such as Ontario Power Authority, the Sacramento Municipal Utility District, and Southern California Edison.

Wade Roush is the producer and host of the podcast Soonish and a contributing editor at Xconomy. Follow @soonishpodcast

Trending on Xconomy